Gulf International Bank UK Ltd Buys 262 Shares of Synchrony Financial (NYSE:SYF)

Gulf International Bank UK Ltd grew its stake in Synchrony Financial (NYSE:SYF) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,223 shares of the financial services provider’s stock after acquiring an additional 262 shares during the period. Gulf International Bank UK Ltd’s holdings in Synchrony Financial were worth $1,518,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. BTC Capital Management Inc. purchased a new stake in shares of Synchrony Financial in the 1st quarter worth approximately $3,540,000. Park Avenue Securities LLC grew its position in Synchrony Financial by 5.0% during the first quarter. Park Avenue Securities LLC now owns 12,161 shares of the financial services provider’s stock valued at $524,000 after buying an additional 576 shares during the period. Banque Cantonale Vaudoise grew its position in Synchrony Financial by 13.3% during the first quarter. Banque Cantonale Vaudoise now owns 93,352 shares of the financial services provider’s stock valued at $4,025,000 after buying an additional 10,959 shares during the period. GAMMA Investing LLC grew its position in Synchrony Financial by 16.3% during the first quarter. GAMMA Investing LLC now owns 3,911 shares of the financial services provider’s stock valued at $169,000 after buying an additional 547 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Synchrony Financial by 62.1% in the first quarter. Los Angeles Capital Management LLC now owns 302,337 shares of the financial services provider’s stock valued at $13,037,000 after purchasing an additional 115,790 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $44.47 on Friday. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $46.72. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 6.38, a PEG ratio of 1.05 and a beta of 1.60. The company’s 50-day moving average price is $43.62 and its 200 day moving average price is $40.91. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same period in the prior year, the business earned $1.35 earnings per share. As a group, research analysts forecast that Synchrony Financial will post 5.71 earnings per share for the current fiscal year.

Synchrony Financial announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. Synchrony Financial’s payout ratio is currently 14.35%.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 31,562 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total value of $1,420,290.00. Following the transaction, the insider now owns 121,042 shares in the company, valued at $5,446,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

SYF has been the topic of several research reports. BMO Capital Markets raised their price target on shares of Synchrony Financial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $62.00 price objective on shares of Synchrony Financial in a research report on Tuesday, June 11th. Wells Fargo & Company boosted their price objective on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $30.00 price target on shares of Synchrony Financial in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.55.

Synchrony Financial Company Profile

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.